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Press Releases

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NCLC Statement in Response to Latest Reports on Student Debt Cancellation

2022-05-27T14:43:46-05:00May 27, 2022|Categories: Media Center|Tags: , |

May 27, 2022 Today, in response to reports that the White House is planning to cancel $10,000 in federal student loan debt per borrower earning less than $150,000, Abby Shafroth, director of the National Consumer Law Center's Student Loan Borrower Assistance Project, issued the following statement: “We urge President Biden to move forward with student [...]

SafeRent Solution Accused of Illegally Discriminating Against Black and Hispanic Rental Applicants

2022-05-25T10:40:34-05:00May 25, 2022|Categories: Media Center|

May 25, 2022 Federal Lawsuit Alleges SafeRent Solutions Violated the Fair Housing Act, State Law by Discriminating Against Black and Hispanic Voucher Holders in Tenant Screenings SafeRent Employs Algorithm That Assigns Disproportionately Lower “SafeRent Scores” to Black and Hispanic Applicants  BOSTON– A lawsuit filed today in U.S. District Court for the District of Massachusetts against [...]

TAB Bank and EasyPay Finance’s Predatory Loans Harm Veterans and Servicemembers

2022-05-25T13:12:34-05:00May 25, 2022|Categories: Media Center|

May 25, 2022 Military servicemembers, veterans, and their families report outrageously high interest rates and deceptive lending practices WASHINGTON – The predatory lending practices of EasyPay Finance and Utah-based, FDIC-supervised Transportation Alliance Bank (TAB Bank) are hurting military servicemembers, veterans, and their families, according to a new report from a coalition of consumer advocacy groups [...]

New FedNow Rules Lack Fraud Protection

2022-05-19T14:38:25-05:00May 19, 2022|Categories: Media Center|

May 19, 2022 Fed to launch FedNow instant payments service in 2023 WASHINGTON – The final FedNow rules announced today by the Federal Reserve Board lack protection against scams and fraud, which, if unaddressed, could leave consumers exposed when the payment service launches next year, warns advocates at the National Consumer Law Center, National Consumers [...]

Biden Administration Sued Again Over Languishing Debt Relief Claims Disproportionately Shouldered by Communities of Color

2022-05-19T13:42:48-05:00May 19, 2022|Categories: Media Center|

May 19, 2022 Advocates aim to secure relief for former Westwood College students WASHINGTON – A group of student, consumer advocacy, and civil rights organizations today filed a lawsuit against U.S. Education Secretary Miguel Cardona and the Department of Education on behalf of former Westwood College students who have been waiting nearly six years for [...]

National Auto Repair Chains Must Stop Offering Predatory Loans Through EasyPay Finance and TAB Bank

2022-05-18T09:57:53-05:00May 18, 2022|Categories: Media Center|

May 18, 2022 Advocates urge auto repair chains, including AAMCO, Meineke, and Midas, to stop offering predatory auto repair loans with interest rates of as high as 189% WASHINGTON – Today, a coalition of consumer advocacy groups sent letters to major national auto repair chains AAMCO and Precision Tune Auto Care (Icahn Enterprises), Big O [...]

New Report and Consumer Alert Flag Deceptive Auto Repair Financing Practices

2022-05-13T10:24:31-05:00May 11, 2022|Categories: Media Center|

May 11, 2022 National auto repair chains like AAMCO, JiffyLube, Meineke, and Midas, and local repair shops are steering customers to predatory lenders engaged in deceptive and abusive practices, charging up to 189% APR WASHINGTON – A report released today by the Stop The Debt Trap coalition finds auto repair shops across the country are [...]

Advocates Applaud Federal Housing Finance Agency’s Move to Require Mortgage Lenders to Obtain Applicants’ Language Preference

2022-05-05T11:17:54-05:00May 3, 2022|Categories: Media Center|

May 3, 2022 Use of the Supplementary Consumer Information Form (SCIF) will enable effective communication between borrower and lender throughout the home buying process. WASHINGTON – Today, National Consumer Law Center, Americans for Financial Reform, Consumer Action, Empire Justice Center, National Community Stabilization Trust, National Fair Housing Alliance, UnidosUS, and National CAPACD applauded the Federal [...]

Consumer Advocates Urge CFPB to Protect Consumers From “Junk Fees”

2022-05-16T11:34:02-05:00May 2, 2022|Categories: Media Center|

May 2, 2022 WASHINGTON – In response to the Consumer Financial Protection Bureau’s (CFPB) call for public input on how to save Americans billions in junk fees charged by financial companies, leading consumer advocacy organizations submitted an extensive comment letter detailing junk fees across a wide range of consumer financial products and services. The letter [...]

Advocates Applaud ED Approval of $238M Discharge for Marinello School of Beauty Borrowers

2022-04-28T10:11:25-05:00April 28, 2022|Categories: Media Center|

April 28, 2022 WASHINGTON – Today, the Department of Education (ED) announced approval of a $238 million group discharge for 28,000 federal student loan borrowers harmed by “pervasive and widespread misconduct” at Marinello Schools of Beauty. In response, Kyra Taylor, staff attorney at the National Consumer Law Center, issued the following statement:  “Today’s actions could [...]